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The Road to Full Investment

A specter is haunting the treasuries and central banks of the West – the specter of secular stagnation. What if there is no sustainable recovery from the economic slump of…

Book review: Capital in the 21st Century by Thomas Piketty

The early 19th-century founders of the classical school of economics reasoned that the distribution of a society’s income depended crucially on who owned its productive resources. David Ricardo identified three…

The Wolves of Wall Street

“What a commentary on the state of twentieth-century capitalism,” mused “motivational speaker” Jordan Belfort as he looked back on his life of fraud, sex, and drugs. As head of the…

The Osborne Audit: What have we learned?

On Wednesday, for the first time in four Budgets, George Osborne will be able to claim plausibly that Britain has come out of the Great Recession. Growth was 1.8 per…

The Programmed Prospect Before Us

Mindless: Why Smarter Machines Are Making Dumber Humans by Simon Head Basic Books, 230 pp., $26.99 1. The entire thesis of Simon Head’s arresting new book is contained in the…

Economic Affairs Committee questions George Osborne

Today the Economic Affairs Committee of the House of Lords took evidence from George Osborne on the economy.   Watch the public evidence session here, from the Parliament TV website:…

Inventing the World’s Money

The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of a New World Order by Benn Steil. Council on Foreign Relations/Princeton University Press, 449 p.,…

Shale Gas to the Rescue?

The developed world is slowly emerging from the Great Recession, but a question lingers: How fast and how far will the recovery go? One big source of pessimism has been…

Four Fallacies of the Second Great Depression

LONDON – The period since 2008 has produced a plentiful crop of recycled economic fallacies, mostly falling from the lips of political leaders. Here are my four favorites. The Swabian…

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